Itron (NASDAQ:ITRI) PT Lowered to $103.00

Itron (NASDAQ:ITRI) had its price target lowered by research analysts at Piper Sandler from $105.00 to $103.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the scientific and technical instruments company’s stock. Piper Sandler’s target price indicates a potential upside of 12.64% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen increased their price target on Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Robert W. Baird increased their price target on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.60.

Itron Stock Down 0.8 %

Shares of ITRI opened at $91.44 on Thursday. Itron has a 52 week low of $50.60 and a 52 week high of $96.73. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.02 and a beta of 1.41. The stock’s 50-day moving average price is $86.27 and its 200-day moving average price is $73.73.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The firm had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts predict that Itron will post 3.61 EPS for the current year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Itron by 39.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,842 shares of the scientific and technical instruments company’s stock valued at $1,519,000 after purchasing an additional 8,213 shares during the period. US Bancorp DE raised its stake in Itron by 30.7% in the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after buying an additional 244 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Itron in the first quarter valued at $299,000. Natixis Advisors L.P. raised its stake in Itron by 10.4% in the first quarter. Natixis Advisors L.P. now owns 13,291 shares of the scientific and technical instruments company’s stock valued at $700,000 after buying an additional 1,256 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Itron by 57.2% in the first quarter. MetLife Investment Management LLC now owns 24,551 shares of the scientific and technical instruments company’s stock valued at $1,293,000 after buying an additional 8,938 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.